Maryam orders loan schemes to empower SMEs in Punjab

LAHORE: Punjab Chief Minister Maryam Nawaz has directed the launch of “Business Card” and “CM Easy Business Financing” schemes to promote small and medium enterprises (SMEs) in Punjab.

“We aim to increase employment opportunities by promoting trade and industry in Punjab,” said Chief Minister Maryam Nawaz, instructing authorities to grant interest-free loans to encourage commercial activities in the province.

Under the ‘Business Card’ scheme, medium business loans ranging from Rs1,000 to Rs1 million will be provided. Meanwhile, the ‘Chief Minister Easy Business Financing Scheme’ will offer larger loans of up to Rs30 million.

The chief minister has sought a comprehensive plan for awarding small and medium loans under these schemes and directed relevant authorities to allocate specific zones for small and medium industries in major cities.

“Loans under the Chief Minister Easy Business Financing Scheme must be repaid within five years,” she said. Additionally, borrowers will receive a three-month grace period after the first loan installment.

A proposal to prioritise certain commercial sectors for loans was also reviewed.

Chief Minister Maryam Nawaz clarified that the ‘Business Card’ will not be valid for payments in 10 categories, including restaurants. However, she emphasized that IT startups based in Nawaz Sharif IT will qualify for preferential loans.

Meanwhile, Chief Minister Maryam Nawaz will embark on an eight-day official visit to China from December 8 to December 15, 2024. A 10-member high-level delegation, including Senior Provincial Minister Marriyum Aurangzeb, will accompany her. Special arrangements have been made for the chief minister’s visit to Beijing, Shanghai, Shenzhen and Guangzhou.

During her visit, Maryam Nawaz will meet Liu Jianzhou, Minister of the International Department of CPC, and attend a luncheon hosted by Deputy Minister Sun Haiyan. Meetings with the central CPC leadership, including the minister of environment, are also scheduled. Her itinerary includes visits to Shijiazhuang Hospital, where she will be briefed on China’s public health system, and the Beijing Municipal Commission of Transport. Additionally, she will tour institutions specialising in environmental improvement technologies, IT, and scientific advancements.

The chief minister will also participate in an exhibition of imported goods, visit the CPC Central Congress and museum, and tour a primary school to learn about China’s education system. Notable events include the Punjab-China Dinner and the Punjab Investment Conference. The CM will visit the Jiangdong Renewable Energy Facility to review China’s renewable energy system and Huawei Technologies Factory. Discussions will focus on strengthening cooperation between the CPC and Pakistan Muslim League (N) and enhancing economic ties between China and Punjab.

Chief Minister Maryam Nawaz in her message on the International Civil Aviation Day said, “Aviation has transformed the world into a global village, bridging distances like never before.” She commended Prime Minister Shehbaz Sharif for his efforts in revitalising the aviation sector and Pakistan International Airlines. “Under the thoughtful leadership of Prime Minister Shehbaz Sharif, PIA has regained permission to operate flights in Europe,” she remarked. Maryam Nawaz said that the Punjab government is committed to modernising air travel facilities. She also revealed the proposal to establish a Punjab airline is under consideration.